Latest news with #SecuritiesandExchangeCommission
Bangkok Post
9 hours ago
- Business
- Bangkok Post
National crypto sandbox for tourists in the offing
Digital asset exchange operators have welcomed a joint effort between the Securities and Exchange Commission (SEC) and the Bank of Thailand to launch a crypto sandbox to allow foreign tourists to use digital assets in Thailand, saying the new initiative would drive crypto adoption across Thailand. The regulator has launched a public hearing on a proposed digital asset regulatory sandbox tailored for the tourism sector. The initiative plans to allow foreign tourists to convert digital assets into baht for use during their stay in the country. The proposal also aims to promote innovation, enhance digital asset utililisation and support the broader economy. "This crypto sandbox builds directly upon former premier Thaksin Shinawatra's Phuket sandbox proposal from late last year. Both share the core concept of allowing Bitcoin and cryptocurrencies as payment methods in tourist areas to drive adoption," said Nirun Fuwattananukul, chief executive of Gulf Binance. "The new sandbox proposal is no longer just limited to Phuket, but applies nationwide". The Thai joint founder of the world's leading crypto exchange and the operator of Binance TH sees that the key difference between the two initiatives is implementation. "While the original Phuket proposal was conceptual and regionally focused, this initiative has formal backing from Thailand's primary financial regulators. This represents an evolution from an experimental concept to a structured regulatory framework with proper oversight," he told the Bangkok Post. "What's significant is Thailand's consistent vision in moving from the initial proposal to concrete implementation with regulatory safeguards. This demonstrates our commitment to leading cryptocurrency adoption in the region while ensuring consumer protection and compliance standards," Mr Nirun added. A TESTING GROUND Under the proposal, tourists holding digital assets will be able to exchange them for baht via licensed digital asset operators and use the converted funds through e-money service providers to pay for goods and services across Thailand, the SEC said in a statement. The services will operate within a controlled sandbox environment overseen by the SEC, the Bank of Thailand, the Anti-Money Laundering Office and other regulatory agencies, it added. According to the SEC, the sandbox will serve as a testing ground for digital asset conversion services specifically for foreign tourists. However, digital assets themselves cannot be used directly as a means of payment and converted baht must be spent via regulated e-money platforms, said the statement. The sandbox is open to licensed digital asset exchanges, brokers and dealers, subject to SEC approval to operate under the sandbox. Once approved, participants can provide services for up to 18 months, with possible extensions subject to the SEC's consideration, it noted. Services under the sandbox are restricted to foreign tourists visiting or temporarily residing in Thailand. Operators must comply with the type of licence granted by the SEC and establish interoperability with e-money service providers regulated by the central bank. "This will allow tourists to spend their converted baht electronically, such as via QR code payments." All sandbox participants must adhere to specified regulations, including eligibility criteria, service scope, spending limits for tourists and anti-money laundering requirements. The framework aims to ensure both innovation and consumer protection within a tightly regulated environment. The SEC emphasised that the sandbox is part of a broader effort to leverage digital finance to enhance Thailand's competitiveness in tourism while ensuring financial system stability and security. MONEY LAUNDERING FEAR Bhummikitti Ruktaengam, vice-president of the Tourism Council of Thailand (TCT), said the SEC and the central bank have yet to properly inform tourism operators and stakeholders or clarify the regulations of the crypto sandbox prepped for Phuket. He said the public in Phuket has hardly heard about the public hearing that the SEC is conducting at the moment. "We're not opposed to this scheme, but the government should assure that it has prepared the entire ecosystem for cryptocurrency use before starting this programme," he said. Mr Bhummikitti said there are a few concerns regarding the sandbox programme in Phuket, particularly the prevention of money laundering using the cryptocurrency exchange as a tool, as the island has been overwhelmed by illegal foreign businesses. "We would like the regulators to clarify the rules, allowing people to understand the same principles for this programme," he said.
Globe and Mail
19 hours ago
- Business
- Globe and Mail
Morgan Stanley Reports Second Quarter 2025 Earnings Results
Morgan Stanley (NYSE: MS) today announced its second quarter 2025 financial results. The financial results are now available on the Firm's Investor Relations website at and will be available on a Form 8-K filed with the Securities and Exchange Commission (SEC) on July 16, 2025, and available on the SEC's website at A conference call to discuss the results will be held today at 8:30 a.m. (ET). The call will be available at or by dialing 1-866-431-2040 (domestic) and 1-929-477-0541 (international); the passcode is 400700. Playback will be available via webcast on our website. Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit
Business Wire
20 hours ago
- Business
- Business Wire
United Therapeutics Corporation to Report Second Quarter 2025 Financial Results Before Market Open on Wednesday, July 30, 2025
SILVER SPRING, Md. & RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--United Therapeutics Corporation (Nasdaq: UTHR) announced today that it will report its second quarter 2025 financial results before the market opens on Wednesday, July 30, 2025. A press release detailing the quarterly results will be issued that day at approximately 6:30 a.m. Eastern Time. United Therapeutics will host a public webcast Wednesday, July 30, 2025, at 9:00 a.m. Eastern Time. The webcast will be accessible via United Therapeutics' website at A rebroadcast of the webcast will be available for one year and can be accessed at the same location. United Therapeutics: Enabling Inspiration At United Therapeutics, our vision and mission are one. We use our enthusiasm, creativity, and persistence to innovate for the unmet medical needs of our patients and to benefit our other stakeholders. We are bold and unconventional. We have fun, we do good. We are the first publicly-traded biotech or pharmaceutical company to take the form of a public benefit corporation (PBC). Our public benefit purpose is to provide a brighter future for patients through (a) the development of novel pharmaceutical therapies; and (b) technologies that expand the availability of transplantable organs. You can learn more about what it means to be a PBC here: Forward-Looking Statements Statements included in this press release that are not historical in nature are 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, among others, our efforts to innovate for the unmet medical needs of our patients, to benefit our other stakeholders, and to pursue our public benefit purpose of developing novel pharmaceutical therapies and technologies that expand the availability of transplantable organs. These forward-looking statements are subject to certain risks and uncertainties, such as those described in our periodic reports filed with the Securities and Exchange Commission, that could cause actual results to differ materially from anticipated results. Consequently, such forward-looking statements are qualified by the cautionary statements, cautionary language, and risk factors set forth in our periodic reports and documents filed with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We claim the protection of the safe harbor contained in the Private Securities Litigation Reform Act of 1995 for forward-looking statements. We are providing this information as of July 16, 2025, and assume no obligation to update or revise the information contained in this press release whether as a result of new information, future events or any other reason.
The Sun
a day ago
- Business
- The Sun
Trump executive order to expand retirement plan access to private markets
U.S. President Donald Trump is expected to sign an executive order in the coming days designed to help make private-market investments more available to U.S. retirement plans, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. The Trump order would instruct the U.S. Labor Department and the Securities and Exchange Commission to provide guidance to employers and plan administrators on including investments like private assets in 401(k) plans, according to the WSJ report. The White House declined to comment on the report. Bryan Corbett, president and CEO of MFA, a trade association that represents alternative asset management options such as private credit and hedge funds, hailed the expected order. 'Expanding access to alternative investments in 401(k) retirement plans will provide more Americans with the diversification and investment options needed to build wealth and save for successful retirement,' he said in a statement. Private-market investments, often referred to as private assets, include private equity, venture capital, real estate and hedge funds. These assets are not traded on public exchanges and are typically characterized by higher risk and potentially higher returns compared to traditional public-market investments like stocks and bonds. - Reuters
Politico
a day ago
- Business
- Politico
California is still the state to beat on corporate emissions
With help from Alex Nieves, Nicole Norman, Juliann Ventura and Chelsea Harvey KEEPING THE TORCH: California is still the only game in town when it comes to corporate climate disclosure — even if it's taking its time on implementation. After California passed its pair of laws requiring big companies to report their emissions and their climate-related business risks and not only promptly got sued, but started watering down the requirements and timeline for enforcement, other states started stepping up to fill the void. But bills in Illinois, New Jersey, New York, Colorado and Washington have all stalled this year, leaving California as the de facto leader after the Trump-era Securities and Exchange Commission rolled back its federal rule. 'We didn't make it across the finish line,' said New York state Sen. Brad Hoylman-Sigal, whose second attempt to compel large businesses in his state to report their pollution failed last month. 'That's disappointing.' He conceded that there isn't yet the same level of support California saw for SB 253 and SB 261, when tech giants like Apple and Google came on board late in the 2023 session to push them over the finish line. 'I don't think it was a lack of interest or effort,' Hoylman-Sigal said. 'I think it was mostly due to a shorter legislative session. It's a complicated, big, important bill.' He said he thinks it can pass next year — but someone else will have to shepherd it, since he's leaving the Legislature to run for Manhattan borough president. Other bills have yet to be taken up or were scaled back. Washington's measure was turned into a study bill before failing to advance, while New Jersey's is expected to fall prey to lawmakers' election-year ambitions. Environmentalists who had been getting impatient with California's pace of implementation have since made their peace. Ceres, a sustainability nonprofit that counts Amazon, Bank of America and Target among its member companies, had gotten frustrated enough that it started backing copycat legislation in other states — a reversal from when both Ceres and the U.S. Chamber of Commerce, which is suing over the rules, agreed a 'regulatory patchwork' would be counterproductive. Now, Steven Rothstein, managing director of the Ceres Accelerator for Sustainable Capital Markets, said he feels comfortable enough with CARB Chair Liane Randolph's commitment to finalize rulemaking by the end of the year before companies start making disclosures of scopes 1 and 2 greenhouse gas emissions in 2026. 'We are responding to inquiries from states all the time,' Rothstein said. 'But we're not going out and beating the bushes.' The shift in tone is a notable new vote of confidence in CARB after we reported late last year that the agency won't seek corporate penalties for 'incomplete reporting' so long as a company makes a 'good faith effort' to retain data relevant to its carbon footprint, sparking a backlash from disclosure supporters. Gov. Gavin Newsom had also sought to delay corporate climate reporting by two years, and CARB suggested scrapping Scope 3 reporting requirements, which remain in the law and will kick in in 2027. But Rothstein said he's encouraged by the progress he's seen, which includes a workshop CARB held in May on the issue. 'We're eager to do it, but it's more important that it be done thoughtfully and in a diligent manner than a few months' delay,' he said. — JW Did someone forward you this newsletter? Sign up here! SOLAR TRUCE: A controversial proposal to reduce subsidies for a wide swath of rooftop solar customers is no more. Assemblymember Lisa Calderon agreed Tuesday to remove language from AB 942 that would have lowered payments to homeowners who installed solar panels before 2023 for surplus energy they sell back to the electric grid through a process called net metering. The amended measure cleared the Senate Energy, Utilities and Communications Committee on Tuesday on a 9-4 vote. The bill would have aligned payments to early adopters of solar with less lucrative subsidies for homeowners who installed solar panels after the California Public Utilities Commission voted in 2022 to end net metering. That concept sparked a heated debate over who benefits from higher subsidies and whether rolling back net metering has hampered the state's climate goals. Utilities, labor unions and ratepayer advocates argue that subsidizing solar customers' energy bills means that homes without rooftop solar pay a disproportionate amount to maintain the electric grid. Meanwhile, the solar industry, developers and realtors argued that the proposal to reduce payments would have retroactively broken contracts between home sellers and buyers. The bill is now narrowly tailored to ding residential customers whose annual electric bills are under $300. They would no longer be eligible to receive a separate credit funded with cap-and-trade auction revenues. — AN SPEAKING OF AMENDMENTS: Senate Democrats also nixed language from a bill that would have required CPUC appointees to represent different regions of the state. Committee Chair Josh Becker said during a hearing Tuesday that the decision was made in light of Newsom's veto of a similar bill in 2022. At the time, the governor said mandating that commissioners come from different regions was unnecessary because he was committed to having state boards that 'represent California's diversity.' Assemblymember Rhodesia Ransom, author of AB 13, reluctantly accepted the amendment to the current bill, telling the committee that she was 'not excited' about the changes. Some lawmakers and ratepayer advocates have expressed concern that all five of the CPUC's current commissioners — each of whom was appointed by Newsom — live in the Bay Area or Sacramento region, which is served by one utility: Pacific Gas & Electric Co. The bill still contains a handful of proposed changes to CPUC's rules, including a requirement that at least one commissioner have a background in consumer protection and new reporting mandates when the commission decides to increase rates. — AN POINTING FINGERS: Republican House Speaker Mike Johnson said Tuesday that the federal government has not seen California's 'formal request' for wildfire aid, saying that there is a 'multistep process' that has not been completed. 'For whatever reason, Gavin Newsom seems to enjoy trying to stick his thumb in the eye of the White House and Congress, which seems to be counter purpose if he is requesting relief,' he said. Newsom's office clarified in a post on X that they have been in contact with the speaker's office. 'It's our understanding that the Speaker was referring specifically to the White House's formal appropriations request,' they clarified. Newsom took a trip to Washington in February to meet with lawmakers on both sides of the aisle on the issue. That month, he also sent a letter to Johnson and other House leaders asking for almost $40 billion to help with immediate and long-term recovery. — NN AI OBSTACLE — Looming budget cuts at the National Oceanic and Atmospheric Administration could undermine the country's AI-powered weather forecasting capabilities. The funding threat comes as California tech companies have been seizing their moment in Washington in hearings focused on wildfire policy and technology. The Trump administration wants to slash the agency's budget by $2.2 billion — a move that experts say could stymie the improvement of AI weather models, Chelsea Harvey reports for POLITICO's E&E News. While AI did not predict the floods in Texas, the technology was showing potential with weather forecasting and new models are 'certainly capable of predicting 'out-of-sample' events — events that they haven't seen before,' said Corey Potvin, a scientist at NOAA's National Severe Storms Laboratory in Norman, Oklahoma. Meanwhile, Kim Doster, NOAA's director of communications, dismissed concerns, saying in an email that cuts would not negatively impact research and forecasting at NOAA. – JV — The California Department of Forestry and Fire Protection put out a new map that shows the severity of all fires over 1,000 acres since 2015. — A new report on state efforts to reduce plastic pollution ranks California as the nation's leader. — The 2026 FIFA World Cup, hosted by the United States, Canada and Mexico, is going to have an extreme heat problem.
